TSX-listed, US-based rare earths producer Energy Fuels' terbium oxide has successfully passed all qualifications for use by one of the world's largest manufacturers of permanent magnets, in Japan.

Energy Fuels produces terbium oxide at its White Mesa Mill, in Utah, where it also produces uranium.

Notably, the Japanese manufacturer approved the terbium oxide for use on commercial rare earth permanent magnet production with no further qualification or validation required.

"This latest qualification of Energy Fuels' heavy rare earth oxides marks another significant milestone in establishing a secure, diversified supply chain for critical rare earth materials," says Energy Fuels president and CEO Ross Bhappu.

He adds that successful qualification of the company's terbium oxide by one of the largest Japanese rare earth permanent magnet manufacturers represents one of the strongest endorsements of Energy Fuels' product quality and industry-leading rare earth processing capabilities to supply the heavy rare earth materials needed for automobiles, advanced electronics, robotics, aerospace, defence systems, and other advanced technologies.

Terbium is among the most valuable and strategically important rare earth elements, serving as a critical input that improves the heat resistance and performance of high-strength neodymium-iron-boron permanent magnets used in a variety of advanced technologies.

Reflecting its extreme scarcity and limited production in the West, terbium oxide currently commands a market price of approximately $5.5-million per tonne, according to Benchmark Mineral Intelligence.

Energy Fuels previously announced the qualification of its neodymium-praseodymium and dysprosium oxides for the manufacture of rare earth permanent magnets.

Upon closing of the pending acquisitions of Australian Strategic Materials and Vacuumschmelze, Energy Fuels expects to become the leading vertically integrated "mine-to-rare-earth permanent magnet" producer in the US and Europe.